PREVIOUS EPISODES:
NSFW Episode 1: QE2, Housing, Commodities
Here's the link to Bill Gross's November outlook:
And to the books we recommended this week:
Nature's Metropolis: Chicago and the Great West
and
The Servile State
Finally, here is a direct link to the video along with the Embed Code for use on your own site. If you're going to use the video, don't be evil. A link back to WallStreetOasis.com is the least you can do:
http://wetoku.com/Eddie_Braverman/2J3
We'd love to hear any comments you have below. Have a great Sunday, guys.
Another great episode. Thanks guys. Was that "Kidz-b-gone" I saw again?
This is a big week coming up, with Midterm Elections, FOMC, RBA, ECB and BoE meetings, NFP, plus a slew of other data. I would like to hear about your opinions about these events and the outlook going forward for the rest of the year (I'm sure you guys were planning on something like this anyway).
Also, in a future episode, I'd like to see you guys discuss this chart and its implications in 2011. I've posted it before (It is one of my favorite charts) and I do think it is something worthy of attention.
http://bp3.blogger.com/_pMscxxELHEg/RxzD0s_7EYI/AAAAAAAABB4/ljDSXZhMG3o…
Glad so many of you guys like the show. I'm humbled by the kind words. Please feel free to suggest as many topics of interest as you would like, it may take us a while... but we will do our best to get to all of them.
Agree on Prop trading going back to well-off individuals or gamblers, the simple reason is enough is enough. The banks can't have their cake and eat it too, the American public has had enough and I think even the hardcore GS fanboys have had enough if they know what the hell is going on beyond the name GS.
Agree with Euro appreciating vs. the Dollar but disagree with Greece defaulting in three years, it is clear Deutschland's disdain for all the rest of Europe's easy money binge by how they almost let Greece Default but I think the Euro has a psychological thing to it, having to do with "Europe" plus I can't imagine an individual DL currency doing too-well when the rest of the Euro is burning and DL is doing well. This is simply because they are an export economy (The economist had a great article on their GDP bouncing back based on this fact vs. other nations who relied more on financial services).
What else??? I am trying to remember what else you two talked about...
We'll beat the Chinese give it some time you guys know how this works, competition owns life. We'll beat them, they'll beat us life goes on. The Chinese still import their chips from us, they have been trying for a while to get their own industry off ground to no avail same goes for the Indians. Fuck them if they are going to use rare earths as a tool for diplomacy lets stop the shipments of Intel chips to them in the name of national security the same way we stopped PS3 sales to Iraq.
Agree on eliminating farming subsidies but lets be careful once I remember reading up on Brazil, India and Europe making a fuss of subsidies but its like coke; everyone makes a huge deal about making it harder to get and tougher punishments if you get caught but we are all blowing lines behind each other. Food. Inc. good documentary btw really has nothing to do with this but just made me think of the movie.
Midas, I like you you seem like a smart fellow. Def someone I could have a few drinks and have good conversation with.
Edmundo, crown molding and hanging chandelier lighting? Nice taste my friend either a very well-built house or a very well-built old house. They don't make them like they use to.
I'll check on this later, it seems everyone is still sleeping.
Thanks. My pad was built about 150 years ago so, yeah, you could say it's sturdy. My walls are so thick I can't get my wireless signal further than 50 feet from the router.
Thanks for all the feedback, guys. It's a work in progress, but I think it will get better each week.
Once again, can we please stop using this wetoku video shit? It won't load at home or work, and there are hundreds of commonly used video sites that actually work. Why oh why dear WSO overlords!
we're working on getting the video files hosted on Wistia after recording them with Wetoku but we didnt want that to delay the start of the series. Also, if you hit play, then pause the video and come back 10 minutes later you should be able to hit play again and enough of the video will have downloaded so you have a smooth viewing.
wetoku works fine.
Nice broad coverage of topics and the book recommendations are great.
You mentioned the gold standard. Do you think we've seen the end of fiat currency and a shift towards the gold standard or just the end of the USD and the rise of the Yuan?
Good arguments however I do disagree with germany not willing to bail out other eurozone countries as shown by the recent news of Germany trying to create a permanent bail out fund. Definitely disagree with greece leaving the Eurozone and defaulting although leaving euro would I feel be beneficial to them
I agree with Greece having to default, the bailout was just a stop gap measure and didn't solve anything. It's like paying off one credit card with another, sooner or later it's going to come back and bite you. This is going to be a problem when things start to get better and interest rates start to inch back up.
I'm not sure that they'll be kicked out of the Eurozone though, it seems like it might send the wrong signal overall to the smaller countries within the Eurozone.
Anyways, appreciate the commentary!
Also I think prop trading will just move to europe rather than ending which should be good news for the UK as long as we play our cards right
This video series is GOAT.
Another good show...thanks! Eddie, give us a little US political coverage from France. Tells us what they said about Tuesday's elections. I'm interested in what European leaders think of our selections, and how they see them effecting the Euro/$ appreciation.
Great series, great video! Those books made it on my "must read" list. Thanks guys!
I can see it perfectly fine. I am on Firefox, Windows 7...any idea why some people can see it and others can't...maybe they are missing a codex or something like DivX or Xvid.
I agree with Edmundo on the Greece sticking with the Euro thing. Beyond the political reasons, Germany simply has too much to gain from being in the Euro zone. Like copia22 said, they're an export economy and eliminating currency risk and trade barriers with its biggest markets is absolutely huge. Sure, situations like Greece's are annoying but Germany would be much better off flexing some muscle and kicking them out than bowing out themselves and damaging the relationships that sustain the German economy.
This episode is fantastic... Thanks guys!
Agree with Eddie on most of his points.
Midas.... you are a f%*ing idiot and know NOTHING about trading. Go generate alpha on your own with 10k? Yea right. This is such bad advice it is not even funny. I work for a prop firm and we only have to pay around 4-12 cents per contract traded. An individual would pay at the very least 10x per contract. The only "Alpha" you are going to be generating is for your brokers. A prop firm will teach you a proper edge to trading and how the markets operate; you can always go off on your own later if you are successful. A blacksmith was an apprentice first; he didnt just grab some hammers and start hitting shit.
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